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Squawk on the Street

SOTS 2nd Hour: Trump Day 1, Beijing’s Tariff Preparations, & Davos Deep Dives w/the CEOs of Pepsi and Gap 1/21/25

Squawk on the Street

CNBC

Business, News, Investing

4.1567 Ratings

🗓️ 21 January 2025

⏱️ 42 minutes

🧾️ Download transcript

Summary

Carl Quintanilla and David Faber – alongside Sara Eisen, live from the World Economic Forum in Davos this hour – broke down the latest for stocks on Day 1 of the Trump Administration. Charles Schwab Chief Investment Strategist Liz Ann Sonders gave her outlook for the broader markets – plus one energy investor talked his top picks given deregulation ahead. Also in focus during the hour: Trump’s impact on Crypto, and how factories across China are preparing for possible tariffs ahead. Additionally: Sara discussed the latest on the consumer front – and regulation - with the CEOs of Pepsico and Gap, both live from the World Economic Forum in Davos during the hour. Squawk on the Street Disclaimer

Transcript

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0:00.0

It's Jim Kramer here. You're listening to the opening bell of CBC squawk on the street.

0:04.7

Don't miss a minute of the action.

0:14.6

Good Tuesday morning. Welcome to another hour, squawk of the street. I'm Carl Kineneo with David Faber here at Post 9 of the New York Stock Exchange.

0:37.9

Sarah Eisen joins us from the World Economic Forum in Davos. She'll bring us the latest there in just a moment. Markets this morning adding to some gains after a good week last week. Treasury's coming back to about a three-week low. Three big movers we're watching this morning. 3M's a top gainer after beating top and the bottom line estimates,

0:43.2

issuing some strong guidance. Two firms down Great Apple today, loop capital to hold, Jeffries to underperform as both firms get bearish on iPhone demand. And then there's Bitcoin hitting some record

0:48.7

highs before Trump's inauguration. Holding 100K will get some more on crypto coming up.

0:54.2

Meantime, the president taking office with the most expensive stock market in history.

0:58.0

The journal today highlights that American stocks, 83% more expensive than when Bill Clinton first took the oath,

1:05.0

145% more than when Obama began his term, and four times Reagan's starting point, or even even a third price year at the start of Trump's own first term.

1:15.4

Let's talk about how to a position from here joining us this morning. Lizanne Saunders, Charles Schwab, a chief investment strategist.

1:21.2

Lizanne, good morning. Good to have you.

1:23.2

Nice to be here. How are you, Carl?

1:24.8

It's an interesting morning for us because there is so much

1:27.9

policy discussion, even as we're in the middle of getting some corporate commentary about the

1:32.6

quarter, I wonder how much uncertainty you think that feeds into at least the rest of January.

1:38.5

Well, we may have alleviated some of the tariff-related uncertainty in terms of what got announced

1:44.0

on day one, but it was even of what got announced on day one.

1:45.2

But it was even later in the day on day one that the administration came out and said they're still planning and going ahead with tariffs on imports from Canada and Mexico.

1:54.9

So I think that's the one page from the 2018 playbook that is relevant this time is the uncertainty associated with just how and when

2:01.9

these policy announcements get made. But, you know, it had helped allow for a turnaround in the equity market.

2:10.0

You've generally been seeing the dollar trending lower, at least over the past eight days since the recent peak.

2:17.7

And on a day like today with yields down sub 4.6% on the tenure, I think that's helping to give a lift to the rustle.

...

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